Business Idea- A "sell your own car" lot (Skills & Traits…
Business Idea- A "sell your own car" lot
Skills & Traits
Accepting I am responsible for the turn out.
Ex: If I don't put in the time and research necessary for the business then it will fail.
Don't give up easy.
Ex: Work the hours necessary to run the business even if I don't get vacation the first years or much profit at first.
Care for something you are doing.
Ex: I have loved cars since I can remember and plan to to make my business relevant to cars.
Fast and efficient at solving problems.
Ex: Working in the restaurant industry has given me this skill.
Have a lot with space available for customers to sell their own vehicles.
In addition provide the following in multiple packages:
Car security for anti-theft.
Meeting area for customer and buyer.
Offer KKB values on cars at the lot.
Offer for photos and website posting.
Owner permitted and ride along test drives.
Have my own cars for sale.
Hold event such as simi-monthly local car show for extra traffic.
On a main road with lots of traffic for business flow.
State that season has nice weather for people to get out of their cars would be a great benefit but not required
Mon-Tues 9-5 Wednesday 8-2 Thurs-Fri 9-5 Sat- Appointments -Appointments may be available later in the day on weekdays with 3 days notice.
I have chose the above schedule to alot time for personal appointments on Wednesdays and time for people who only get weekends off on Saturday.
Husband and Daughter (1yr)
My business plan does not require much "man power" to run so I do not foresee needing extra help from the family, seeing as I don't think they would be interested anyway.
I only have one medical problem that keeps me from lifting heavy objects and standing to long. I do not think this will impact the business in any or many ways.
Meets a personal goal.
meeting my personal goal would be bringing in enough income to pay the funding loan off early and bring $1,000+ in a week.
Involvement in Daily Operations
I want to be involved with every aspect of operations.
I am the type of person who likes to see the big picture rather than just the part I am doing.
Maintaining Majority share & Funding
Sole owner & borrowed funding.
I think the start up costs will be low enough for me to not give out shares.
I want to do borrowed funding and hope to pay off the loan early.
Prefer 1 or 2 close employees that can be trusted.
Skills they need are as follows:
Organized and clean
My businesses financial and personal goal would be to bring in a steady extra income for my family while giving me freedom to be my own boss in something I would enjoy doing.
I wanted to create this business because I learned when trading cars into a dealership you loose so much money on trade in value compared to private party value. so my business idea is to help customers not go "upside down" on their loans and put more money in their pocket by letting them sell their own vehicle on the lot.
This Idea fits my personal vision because it involves everything I want. I will list the following:
My passion for cars.
Will provide an extra income for the family.
Freedom to be my own boss.
Skills & Team
Skills my team and I would need will either already be know or able to learned.
Not many people like to think about the risk of their business failing, but if this occurred during my business venture i would have to sell off the land and building I would have purchased with the borrowed money in order to pay it back to the bank.
Rewards: of succeeding in my business launch
Personal satisfaction will be the largest reward for me, but financial rewards and recognition of my success will be next to follow.
Involves Significant Savings for Customers and Customer Buyers
My business Idea will provide significant savings for both my customers and the customers buyer's.
The saving will come from the difference of the customer selling their vehicle through a private party rather then trade in value.
Is There a Need for My Business Idea?
The simplest way to know is posting a survey type post in a local Facebook group to see if people are interested.
If people were interested then the next step is to start networking with other businesses like mine such as the basic sell your car lots.
To keep customers on an inflow I think advertising and location is the most important. Second would be good service and clean lot to keep customers happy and to get them to recommend my business to others.
Talking About my idea
The problem it solves
My business idea solves the problem of the hard work it takes to sell a used car and customers profit the difference from trade in value vs. private party value.
How my business solve the problem
My business will clean, photograph and provide the location for customers to sell their car.
Providing the needed things for customers to sell their car fast they will profit the extra cash they would not have gotten if they traded their car into a dealership.
How is it different? and competitive advantage.
My business is different in the aspect that it isn't plain Jane like other sell your own car lots that just let the customer park it there then that is it. My business offers the extras to help sell the customers car fast.
Who will buy and Why.
My predominate customers will be people looking to sell their used vehicle and may more may not need the extra help doing so.
What do we do?
We would offer all the necessities it takes to sell a used vehicle. the customer would just need to provide the vehicle they want to sell, and we do the rest.
What does it solve?
My business puts the money back in peoples pockets that they would loose if they traded in their vehicle rather than sell it on their own.
Why is my business unique?
My business is unique because unlike the standard "sell your own car lot" I would be there to help the customer sell their car.
I don't often seek new projects.
I have low confidence in business area.
I don't do well with too many obstacles in the road.
Open and talkative
Stand up for themselves
Good working alone or in a team
Very systematic and organized
What the Business Needs
Good with new technologies